IE plans stay course after 1984 gains and 1985 outlook
Iowa Electric Light & Power reports 1984 profits rose 23 percent on higher revenues and controlled costs. Lee Liu, IE president, says 1985 may dip due to mild winter but recovery expected with normal summer weather and ongoing cost containment. The firm expands finances with an $18.4 million stake in Teleconnect Inc and plans to meet competition by maintaining its current strategy while diversifying.
MENTIONED IN THIS ARTICLE
George C. Ford
Iowa Electric Light & Power Co
Lee Liu
Liu
Teleconnect Inc
Cedar Rapids
Bondy on Money Hutton customers questioned about safety
Readers asked if funds at E F Hutton are safe amid the firm's problems. The columnist explains that client money in mutual funds and street-name stocks remains protected, since the risk lay in Hutton using banks to lend money interest free, harming banks and stock investors, not client assets.
MENTIONED IN THIS ARTICLE
E.F. Hutton
E.F. Hutton Mutual
Securities Investors Protection Corp
SIPC
Aetna Insurance
Guaranty Bank and Trust Company
Patterson Dental sold to Cedar Rapids branch owners by Beatrice Co
Patterson Dental Co moved to new ownership by its management group led by Beatrice Co of Chicago. The May 9 effective date makes the 108 year old firm the largest privately held dental distributor in the nation. Peter Frechette said the deal lets Patterson control its destiny and advance programs to raise service levels for customers. The Cedar Rapids office at 1330 First Ave NE remains part of the Davenport eastern Iowa office.
MENTIONED IN THIS ARTICLE
Patterson Dental Co
Cedar Rapids
Beatrice Co. Inc
Chicago
Minneapolis
Patterson
Peter Frechette
Milwaukee
First Ave
Iowa
Davenport
Dow Climbs to Record as Broader Averages Waver
The Dow Jones industrials rose 4.82 to a record 1,309.70 while broader market averages slipped. Retail and auto issues led gains. telephone, computer and financial shares lagged. Total NYSE volume was 130.15 million shares.
MENTIONED IN THIS ARTICLE
New York
Standard & Poor
S&p
Ertl to Acquire Mini Toys Inc in Guttenberg
The Ertl Co. of Dyersville announced it will acquire Mini Toys Inc. of Guttenberg and take possession June 1. Mini Toys will operate as a division of Ertl, with manufacturing kept in Guttenberg. Mini Toys makes replica farm equipment toys and holds licenses from Hesston and Mitsubishi among others.
MENTIONED IN THIS ARTICLE
Dyersville
Mini Toys Inc
Guttenberg
Ertl Co
Fred Ertl Jr
Mini Toys
Ertl
Hesston
Mitsubishi
Mini Toy
Tijuana
Mexico
Far East
United Kingdom
Australia
VA mortgage rate cut lowers max to 12 percent
The federal VA mortgage rate was reduced to 12 percent from 12.5 percent, effective Tuesday, marking a second rate cut in a month and the lowest in almost two years. Home improvement loans fall to 13.5 percent, reducing payments on an average $61,000 VA mortgage by about $24 monthly.
MENTIONED IN THIS ARTICLE
Washington
Veterans Administration
AMC to lay off 500 as UAW dispute widens at Kenosha plant
American Motors Corp. plans 500 more indefinite layoffs at its Kenosha Wisconsin assembly plant and warns it may close the operation for good. The company will issue a 60 day closing notice to Wisconsin if the UAW does not accept a 15 point concession plan.
MENTIONED IN THIS ARTICLE
Detroit
American Motors Corp
United Auto Workers
U.S
AMC
Wisconsin
Kenosha
Plant Sale Links Clinton Facility to National Buyer
Champion International agrees in principle to sell its six folding carton plants including Clinton and two paperboard mills to Trident Associates of Minneapolis. Eugene Frey of Trident will run Waldorf Corp as CEO. price not disclosed. Greyhound offers special going home student fare through June 15 with 15 percent off one way up to 60 dollars. valid 15 days from sale with student ID.
MENTIONED IN THIS ARTICLE
Clinton
Champion International
Trident Associates
Eugene Frey
St. Paul
Trident
Waldorf Corp
Phoenix
Ariz
Greyhound Lines
Midwest
Iowa
Greyhound
United States
Pickens Loss Ends Run Against Major Oil Firms
Texas oilman T Boone Pickens Jr agrees to sell his Unocal Corp holdings back to the company at a slight loss, the first setback in three years of assaults on big oil. Mesa Petroleum chairman and Mesa Partners II head previously earned $697 million plus $35 million in expenses by selling other oil stocks at a premium.
MENTIONED IN THIS ARTICLE
Los Angeles
Texas
T. Boone Pickens Jr
Unocal Corp
Pickens
Mesa Petroleum Co
Amarillo
Mesa Partners II Investor Group
Pickens Group
Also Mentioned on This Page
Liu, IE
Henrietta D. Arnold
Martin L. Andreas
Walter E. Brown
William O. Gray
Leo L. Nussbaum
David Q. Reed
J.B. Rehnstrom
Henry Royer
Richard E. Scherling
James A. van Allen
Iowa Electric
Bondy
Hutton
Patterson Dental
Erican
Marion Boulevard
Edgewood Rd
Industral Loan Drift Guaranty Corporation of
Dow
Michael Metz
Oppenheimer & Co
Mesa Petroleum
Unocal
Mesa
Trans World Airlines
Carl C. Icahn
TWA
Hewlett-Packard
American Stock Exchange
Guttenberg Toy Company
Federal Reserve Board
Federal Deposit Insurance Corporation
Marion
MONEY
Iowa World
Iowa World Trade Center
Legislative Service Bureau
State Capitol
Des Moines
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